Insurer signs long-term deal with Teranet

by
Jamie Henry |
10 Apr 2014

One of Canada’s providers of mortgage default insurance announced Thursday it has signed a long-term agreement that will integrate Teranet’s national Automated Valuation Model data into its underwriting process.

“Canada Guaranty has been leveraging Teranet’s trusted AVM data for years, but we’re always looking for smart ways to improve our adjudication process while enhancing the customer experience,” Curtis Gergley-Garner, chief risk officer at Canada Guaranty said in an official release. “As we continue to grow our client base, advancing our analytics by capitalizing on Teranet’s data solutions and customized offerings over the long-term makes good business sense.”

The relationship will give Canada Guaranty access to Teranet’s property analytics and suite of risk management tools for the foreseeable future.

“We value our long standing relationship with Canada Guaranty and are honoured that they entrust us with their critical data decisions,” Lawrence Franco, president, value added commercial solutions for Teranet said. “Their decision to partner validates our approach of consistently delivering business value to our customers through innovative ideas and trusted data solutions.”